Senator Rand Paul is campaigning for his audit the Fed bill, and now the Fed is reportedly courting Republicans to talk them out of voting for it. Greg Ip, Wall Street Journal, and James Pethokoukis, American Enterprise Institute, discuss.

About Closing Bell

Anything can happen between the bells of the trading day. But what happens during the last hour could be what matters most. CNBC's "Closing Bell" guides you through the most important hour of the trading day. The show takes a close-up look at how the markets are moving, what's driving them and how investors are reacting. Live coverage includes reports from the Chicago Board of Trade, New York Mercantile Exchange, NASDAQ and the NYSE. Analysts, money managers and CEOs explain their strategies, share opinions, and provide an inside perspective on breaking news stories. In addition, "Closing Bell" provides instant analysis of corporate profit reports, as soon as they break, during the quarterly earning seasons. Features include interviews with entrepreneurs, plus an inside-look at how executives and high-net-worth individuals spend their time and money.